Beverly, Massachusetts Lender Lends Money to Home Furnishings Stores Company

Get small business loans from a Beverly, Massachusetts bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Salem Five Cents Savings Bank is a Beverly, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
BOSTON, MA 02116

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
495 CABOT ST
BEVERLY, MA 01915

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Bank Credit Lines

Best Banks in Beverly, Massachusetts

Getting an SBA Loan in Massachusetts